Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
